Peloton Interactive Gets $1.38 Billion In Fresh Credit
By Ben Glickman
Peloton Interactive said Monday it had refinanced its debt, gaining access to nearly $1.4 billion in credit.
The exercise-bike maker plans to offer $275 million in convertible senior notes due 2029 in a private offering. The company will also enter a $1 billion five-year term loan facility and a $100 million five-year revolving credit facility.
Peloton expects to use proceeds, along with cash on hand, to buy back about $800 million in convertible senior notes due 2026, as well as refinancing existing debt.
The company said it expects to offer the note buyers a 13-day option to purchase up to an additional $41.3 million aggregate principal amount of notes.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
May 20, 2024 16:48 ET (20:48 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
Undervalued by 25% and Yielding 5%, This Stock Is a Buy
-
Can AI Predict Future Stock Returns?
-
The Best Energy Stocks to Buy Now
-
10 Undervalued Wide-Moat Stocks
-
Obesity Drugs: Can New Firms Take Market Share From Eli Lilly and Novo Nordisk?
-
New 4-Star Stocks
-
Intel Fair Value Left Unchanged Despite Qualcomm Takeover Talk
United States